Safeguard Scientifics (NYSE:SFE) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Safeguard Scientifics (NYSE:SFE – Get Rating) in a research report issued on Wednesday. The firm set a “hold” rating on the asset manager’s stock.

NYSE SFE opened at $3.85 on Wednesday. The stock has a market cap of $64.01 million, a PE ratio of -77.00 and a beta of 1.05. Safeguard Scientifics has a twelve month low of $3.32 and a twelve month high of $8.98. The firm has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $5.40.

Safeguard Scientifics (NYSE:SFE – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The asset manager reported ($0.40) earnings per share for the quarter.

In other Safeguard Scientifics news, major shareholder Thomas A. Satterfield, Jr. acquired 15,732 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were purchased at an average cost of $3.45 per share, with a total value of $54,275.40. Following the completion of the purchase, the insider now owns 450,732 shares of the company’s stock, valued at $1,555,025.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas A. Satterfield, Jr. acquired 13,646 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was acquired at an average cost of $3.79 per share, for a total transaction of $51,718.34. Following the completion of the purchase, the insider now directly owns 476,904 shares of the company’s stock, valued at approximately $1,807,466.16. The disclosure for this purchase can be found here. Insiders have bought a total of 84,588 shares of company stock worth $324,827 over the last 90 days. 7.10% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in SFE. BlackRock Inc. lifted its position in Safeguard Scientifics by 0.5% during the third quarter. BlackRock Inc. now owns 581,628 shares of the asset manager’s stock valued at $5,166,000 after purchasing an additional 2,756 shares during the last quarter. Geode Capital Management LLC boosted its stake in Safeguard Scientifics by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 180,517 shares of the asset manager’s stock worth $1,602,000 after purchasing an additional 2,974 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Safeguard Scientifics by 151.4% in the 3rd quarter. Two Sigma Advisers LP now owns 118,733 shares of the asset manager’s stock worth $1,054,000 after purchasing an additional 71,500 shares in the last quarter. CM Management LLC lifted its stake in Safeguard Scientifics by 4.3% during the 4th quarter. CM Management LLC now owns 600,000 shares of the asset manager’s stock valued at $4,410,000 after acquiring an additional 25,000 shares during the period. Finally, Contrarian Capital Management L.L.C. lifted its stake in Safeguard Scientifics by 6.5% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 746,542 shares of the asset manager’s stock valued at $5,487,000 after acquiring an additional 45,644 shares during the period. Institutional investors own 60.59% of the company’s stock.

About Safeguard Scientifics (Get Rating)

Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings. It initially invests in a Series A-C round and opportunistically in a seed round.

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